Floyd Mayweather and Manny Pacquiao announced Wednesday afternoon that they will finally be giving fans the match-up they’ve been waiting for. The two boxing champions will face off in a May 2, 2015 fight at the MGM Grand in Las Vegas in what is easily the most lucrative match in boxing history, reports ESPN. The two boxers said in the announcement that the timing was finally right for the pair to face off.
“Without everyone together, we couldn’t make this fight happen, so I have to be thankful we came together to give the world the fight they want to see, Mayweather-Pacquiao,” Mayweather said. “May 2 is when the world stops to tune in to Mayweather-Pacquiao, the biggest fight in boxing history.”
Pacquiao and Mayweather Will Make $250 Million From Match
The match has a total purse of $250 million, according to The Guardian, a staggering fortune that will be divided between the two fighters. Manny Pacquiao is guaranteed 40 percent and will make at least $60 million, reports Yahoo Sports. Floyd Mayweather can command an even higher cut, with guaranteed earnings at $100 million.
“If you get to this level, where you’re making nine figures in 36 minutes, you have to be a winner,” Mayweather said during the fight announcement.
From June 2013 to June 2014, Floyd Mayweather was the highest-paid athlete in the world with total earnings of $105 million, reports Forbes. Mayweather is the only athlete besides Tiger Woods to break the $100 million mark within a single year, and with Mayweather’s guaranteed earnings from the Mayweather-Pacquiao match set at $100 million, he’s set to pass the that mark for the second year in a row.
Mayweather will also give his career earnings a huge boost, which Forbes estimated at $420 million in September 2014. Floyd Mayweather’s net worth is estimated to be $295 million, according to CelebrityNetWorth.
Manny Pacquiao wasn’t far behind Mayweather on the list of 2014’s highest-earning athletes. At No. 11 on the list of highest-paid athletes, Pacquiao earned $41.8 million for the same period. His career earnings stood at $335 million in November 2014, according to Forbes. Manny Pacquiao’s net worth is an estimated $110 million.
Total Revenue Projections for Mayweather-Pacquiao Match at $400 Million
The Floyd Mayweather-Manny Pacquiao match will also generate huge streams of revenue for the cable networks that air the match and the MGM Grand.
The pay-per-view audience is expected by many to break the previous viewing record for a boxing match, set at 2.4 million viewers by Mayweather’s fight with Oscar De La Hoya, as well as the record for revenue of $150 million set by Mayweather’s 2013 match against Canelo Alvarez, according to ESPN. HBO and Showtime, who had deals with Pacquiao and Mayweather, respectively, had to make a joint pay-per-view deal to air the match.
The MGM Grand will also make a killing off of tickets to the match, selling up to its maximum seat count of 17,000 for $1,500 to $7,500. Ringside seats will not be sold to the general public but rather controlled by the casino, and are expected to sell for up to $75,000, reports The Guardian. Considering all streams of revenue, many are projecting the Mayweather-Pacquiao fight will bring in more than $400 million.